AUSTIN, TX -- National Instruments reported a record fourth quarter, with net income reaching $38 million, up from $2.4 million a year ago.

Sales for the period ended Dec. 31 were up 24% year-over-year to $250 million. Almost all of NI's revenue comes from product sales; maintenance made up $16 million during the quarter. Gross margins increased 60 basis points year-over-year to 77.5%.

For the year, the company, which makes software for test and measurement in a variety of sectors including electronics and printed circuit boards, reported net earnings of $109.1 million, up from $17.1 million last year. Sales rose to $873.2 million from $676.6 million in 2009.

NI virtual instrumentation and graphical system design product sales were up 24% year-over-year. NI instrument control product sales were up 20% year-over-year in the quarter. Product revenue was $234 million, up 24% year-over-year, and software maintenance revenue was $16 million, up 21% year-over-year.

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